Commercial Real Estate Market in Florence, MS
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
60 active listings and 299 off-market properties in Florence, MS. Commercial property asks $15/SF to buy and $12.56/SF/Yr to lease.
Market Trends
Florence, MS spans 161.1 square miles in Rankin County, Mississippi. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Florence, MS asks $100/SF to buy. Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Retail
Retail space in Florence, MS asks $65/SF to buy. Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Industrial
Industrial vacancy in Florence, MS runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily space in Florence, MS asks $108/SF to buy. Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 58.1%
- Commercial 27.3%
- Agricultural 11.9%
- Industrial 2.8%
Largest Zones share of zoned land by district
Single Family Residential District
Major Thoroughfares Commercial District
Agricultural District
Moderate Density Residential District
Limited Industrial District
Florence, MS zones 5,038 acres across 10 districts. Commercial zoning covers 27.3% of zoned land, residential 58.1% and industrial 2.8%. The largest single district is Single Family Residential District at 53.4%. For commercial buyers the practical constraint is that only 30.1% of land carries a commercial or industrial designation.
Single Family Residential District (R-1)
The purpose of this district is to provide areas for the development of low density, single family detached dwellings and related compatible uses in relatively spacious surroundings which provide ample, usable open space for leisure time activities
Market overview
Demographics & Economy
Florence, MS has 20,613 residents in 8,707 households. Density runs 128 people per square mile. Median household income here is $72,099 and median gross rent $886 a month.
20,613
Population
8,707
Households
2.4
Avg Household Size
40
Median Age
21%
College-Educated
85%
High-School Grad
161.1 sq mi
ZIP Area
128
Density / Sq Mi
$72,099
Median Household Income
$38,123
Median Earnings
$886
Median Rent
$180,900
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Hendrix | — | — |
| Richland | — | — |
| Star | — | — |
| Whitfield | — | — |
Commercial property in Florence, MS asks $15/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Florence?
Commercial property in Florence, MS asks an average of $15 per square foot. Multifamily carries the highest asking price at $108/SF.
How much does it cost to lease commercial space in Florence?
Asking lease rates in Florence, MS average $12.56 per square foot per year.
What zoning applies to commercial property in Florence?
Florence, MS zones 5,038 acres across 10 districts, of which 27.3% is commercial and 2.8% industrial. The largest single district is Single Family Residential District at 53.4% of zoned land. The purpose of this district is to provide areas for the development of low density, single family detached dwellings and related compatible uses in relatively spacious surroundings which provide ample, usable open space for leisure time activities Residential zoning covers 58.1% and open space 0%.
Where does Realmo's Florence market data come from?
Realmo compiles Florence, MS figures from 56 active sale listings, 4 active lease listings, 299 tracked off-market properties, the current Florence zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 56 active for-sale and 4 active for-lease listings in Florence, MS. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 5,038 zoned acres across 10 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
